Please vote for devaluing share price with an unlimited shares to be add with no value
SMITHS FALLS, ON, March 11, 2024/CNW/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (Nasdaq: CGC) today announced additional details with respect to the previously announced special resolution to be voted on by the shareholders of Canopy Growth (the "Canopy Shareholders") authorizing an amendment to the Company's articles of incorporation, as amended (the "Amendment Proposal"), in order to: (i) create and authorize the issuance of an unlimited number of a new class of non-voting and non-participating exchangeable shares in the capital of Canopy Growth (the "Exchangeable Shares"); and (ii) restate the rights of the common shares in the capital of Canopy Growth (the "Common Shares") to provide for a conversion feature whereby each Common Share may at any time, at the option of the holder, be converted into one Exchangeable Share. Canopy Shareholders will be asked to consider and vote on the Amendment Proposal at a special meeting of Canopy Shareholders on Friday, April 12, 2024 at 1:00PM ET (the "Meeting").
CANOPY GROWTH ANNOUNCES DETAILS REGARDING CONVERTING INTO EXCHANGEABLE SHARES (CNW Group/Canopy Growth Corporation)
In the event that the Amendment Proposal is approved by the Canopy Shareholders at the Meeting and Canopy Growth files articles of amendment to its articles of incorporation, as amended, such that the creation of the Exchangeable Shares becomes effective (such time of filing being, the "Effective Time"), Canopy Shareholders may elect to convert all or part of their Common Shares into Exchangeable Shares (the "Common Share Conversion Right") and holders of Exchangeable Shares may elect to convert all or part of their Exchangeable Shares into Common Shares (the "Exchangeable Share Conversion Right", together with the Common Share Conversion Right, the "Conversion Right"